Press release
Mobile Wallet Market 2018 by Global Leaders: American Express, Blackberry, First Data, Google, Sprint, Samsung Electronics, MasterCard Incorporated, Visa
Market Scenario:
Mobile wallet is a technology where debit and credit card information can be stored in the smart phone. In the other words instead of keeping the physical cards, one can just pay the bill with the help of the smart phone where the credentials of bank details, card and internet banking information is stored. As the technology is growing and government of various countries are promoting digital economy, the Mobile Wallet Market is expected to grow immensely. Increasing uses of smartphone and growing e-commerce industry are some of the major factor which is supporting the market of mobile wallet around the world whereas growing security proliferation and security are some of the major restraint to the market.
In the latest trend, NFC chip enabled smartphone are expected to drive the market as most of the smartphone manufacturers are equipping the phones with NFC.
In the recent news, Samsung Corporation has acquired LoopPay Inc. is a mobile payment and wallet solution provider. The endless opportunities in the upcoming future are one of the factor which is inviting the major global players in this sector.
The global mobile wallet market is expected to grow at CAGR of 40% and estimated to reach at market size of US ~$5 billion by the end of forecast period.
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Regional Analysis
Currently, Asia-Pacific is dominating the market of Mobile Wallet. Growing economy of Asian countries such as China and India are some of the major factors. In the recent news, Indian government has started promoting the cashless economy and demolish the high currencies in order to overcome from various negative factors. Another factor of growing mobile wallet market in Asia-Pacific is high number of smartphone users. Going ahead to North America, this has more than 250 million smartphone users and as U.S. and Canada are technologically developed countries, it gives North America a great competitive advantage over other regions. Rich IT industry and government initiative towards the cashless economy are helping the North America Mobile Wallet Market. Europe is also showing steady growth in the market of mobile wallet. Countries such as U.K., Germany, France and Italy are some of the major contributors in the revenue of mobile wallet.
Key Players
The major players operating in the market of mobile wallet are- American Express (U.S.), Apple Inc. (U.S.), AT&T INC.(U.S.), Blackberry Ltd. (Canada), First Data Corporation (U.S.), Google Inc. (U.S.), Sprint Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), MasterCard Incorporated (U.S.), and Visa Inc (U.S.) among others.
Segments:
The Mobile Wallet market has been segmented on the basis of-
• By Mode of Payment - Remote Payment and NFC among others.
• By Application – e-commerce, Ticketing, Mobile Coupon, Mobile Transfer, Micropayment among others.
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Intended Audience:
• Software developers
• Mobile app Developers
• Banking Service Providers
• Software Developers
• Software Distributors
• Government
• Mobile based financial service providers and distributors
• Research Institutes & Universities
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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